NephroGenex, a clinical-stage biotech developing treatments for kidney disease, announced terms for its IPO on Tuesday. The Research Triangle Park, NC-based company plans to raise $40 million by offering 3.1 million shares at a price range of $12 to $14. At the midpoint of the proposed range, NephroGenex would command a market value of $115 million.
NephroGenex, which was founded in 2004, plans to list on the NASDAQ under the symbol NRX. NephroGenex initially filed confidentially on November 8, 2013. Aegis Capital is the sole bookrunner on the deal.
